5 Summary

In this session, you have:

• considered different ways of looking at the business model to deliver value to customers
• familiarised yourself with the business model canvas which is a visual summary of how you will realise your business idea
• recognised how the business model canvas makes clear who the business is aimed at, its infrastructure, key resources and activities
• identified how your business model is unique to you and in each element there are opportunities to innovate
• considered how your business is likely to change as you develop your ideas, test and learn from customers, and gain experience.

In this session you also explored some of the dilemmas that entrepreneurs face around decisions about how to develop a business model.

The business model canvas has been introduced as one way of designing and describing the elements of your business. Throughout the course you are invited to keep checking back and adapting your own business model, highlighting gaps to be investigated and using the activities and your learning to prepare an action plan. In Session 4 you are going to zoom in on your customers and the market for your product.

You can now go to Session 4. [Tip: hold Ctrl and click a link to open it in a new tab. (Hide tip)]